RNB has reached a milestone in the turnaround work and post a positive operating income for the financial year 2013/2014. The fourth quarter showed stronger sales in comparable stores than the market and also a positive result. With this, combined with strong collections, we are now looking forward to further increase profitability and develop our concepts.
FOURTH QUARTER, JUNE 1, 2014 – AUGUST 31, 2014 IN SUMMARY
- Net sales amounted to SEK 490 M (476).
- Operating income, including the divested operation (JC), amounted to SEK 4 M (-287).
- Operating income, excluding the divested operation (JC), amounted to SEK 4 M (-103).
- Profit before tax amounted to SEK 3 M (-104).
- Profit after tax amounted to SEK 4 M (-161), corresponding to SEK 0.11 (-4.74) per share.
- Profit after tax, including the divested operation (JC) amounted to SEK 4 M (-289), corresponding to SEK 0.11 (-8.48) per share.
- Cash flow from operating activities was SEK -8 M (-10).
THE PERIOD, SEPTEMBER 1, 2013 – AUGUST 31, 2014 IN SUMMARY
- On November 1, 2013, RNB Agreement entered into an agreement to divest the subsidiary JC to Denim Island AB. During the first quarter of this year, JC’s sales amounted to SEK 111 M and its operating income totaled SEK -6 M. In the preceding year, JC’s net sales amounted to SEK 674 M and its operating income totaled SEK -501 M, of which SEK -260 M related to impairment of the trademark in the second quarter.
- During the first quarter, Polarn O. Pyret entered into an agreement to acquire 100 percent of the shares in WAM AS in Norway. WAM AS was the master franchisee of Polarn O. Pyret in Norway. The acquisition was completed on January 2, 2014.
- An impairment of goodwill in Brothers & Sisters of SEK 151 M has occurred during the third quarter.
- Net sales amounted to SEK 1,917 M (1,945).
- Operating income, including the divested operation (JC) and excluding impairment of goodwill in Brothers & Sisters, amounted to SEK 3 M (-341).
- Operating income, excluding the divested operation (JC) and excluding impairment of goodwill in Brothers & Sisters, amounted to SEK 9 M (-99).
- Operating income, including the divested operation (JC) and including impairment of goodwill in Brothers & Sisters, amounted to SEK -151 M (-601).
- Operating income, excluding the divested operation (JC) and including impairment of goodwill in Brothers & Sisters, amounted to SEK -145 M (-100).
- Profit before tax amounted to SEK -155 M (-127).
- Profit after tax amounted to SEK -155 M (-183), corresponding to SEK -4.57 (-15.92) per share.
- Profit after tax amounted to SEK -155 M (-183), corresponding to SEK -4.57 (-15.92) per share.
- Profit after tax, including the divested operation (JC) amounted to SEK -160 M (-629), corresponding to SEK -4.75 (-54.56) per share.
- Cash flow from operating activities was SEK -9 M (-95).
- Apart from the takeover of 24 stores that occurred in Norway in connection with the acquistion of the Master Franchisee WAM AS, three new stores (Polarn O. Pyret) were opened during the period, of which one was a proprietary store (Sweden) and two were franchise stores (UK and Estonia).